Minneapolis-based computer software publisher and media distrib Navarre Corp. is mulling the sale of subsid Funimation Entertainment, which distribs Japanese toons in the U.S.

Navarre has hired investment bank Houlihan Lokey to scout out potential buyers, while noting in its announcement that the process may not result in a deal.

Navarre wants to concentrate on its core biz of distribbing and publishing computer software.

Funimation’s business plans, including toon content production, social networking and digital broadcasting, are not a good fit with this strategy.

Launched in 1994 and headquartered in Flower Mound, Texas, Funimation distribs Japanese toons in the U.S. through various media, from DVDs to Internet video portals and its own Funimation digital cable channel. Among its better-known titles are the “Dragonball Z,” “Fullmetal Alchemist” and “YuYu Hakusho” series.